FreshBooks vs Wave Payroll
A head-to-head comparison to help you pick the right tool
Last updated: April 30, 2026
FreshBooks
FreshBooks is an accounting and invoicing platform designed specifically for freelancers, self-employed professionals, and small service-based businesses. It is known for its exceptional ease of use and beautiful invoicing tools. FreshBooks focuses on making accounting simple for non-accountants who just need to track income, expenses, and get paid quickly.
Wave Payroll
Wave Payroll is a simple payroll solution built into the Wave accounting ecosystem. It is designed for very small businesses that already use Wave for accounting and want an integrated payroll solution. Wave Payroll handles direct deposit, tax payments, and W-2s, making it a natural choice for businesses already in the Wave ecosystem.
Pros
- ✓Easiest accounting software to learn and use — ideal for non-accountants
- ✓Beautiful, professional invoice templates
- ✓Built-in time tracking and project management
- ✓Excellent mobile app for tracking expenses on the go
Cons
- ✗Not suitable for product-based businesses needing inventory management
- ✗Limited features for complex accounting needs
- ✗More expensive than competitors for what you get on lower tiers
- ✗Payroll requires third-party integration
Pros
- ✓Seamlessly integrates with Wave accounting — no manual data transfer needed
- ✓Very affordable pricing for micro-businesses
- ✓Simple interface with minimal setup required
- ✓Free Wave accounting included with subscription
Cons
- ✗Limited features compared to dedicated payroll platforms
- ✗Tax filing is only automatic in select states — manual filing required in others
- ✗No mobile payroll app
- ✗Not suitable for businesses with complex payroll needs
FreshBooks vs Wave Payroll: Side by Side
| Factor | FreshBooks | Wave Payroll |
|---|---|---|
| User Rating | N/A | N/A |
| Category | Accounting Software | Payroll Software |
| Pricing Model | Paid | Paid |
| Starting Price | $19/mo | $20/mo + $6/person |
| Best For | Freelancers and small service businesses wanting simple, beautiful invoicing and accounting | Micro-businesses already using Wave accounting that want simple integrated payroll |
| Our Pick | — | — |
FreshBooks Features
- ✓Invoicing
- ✓expense tracking
- ✓time tracking
- ✓project management
- ✓payments
- ✓financial reporting
- ✓bank reconciliation
- ✓mobile app
- ✓client portal
Wave Payroll Features
- ✓Payroll processing
- ✓direct deposit
- ✓tax payments and filings
- ✓W-2 and 1099 preparation
- ✓Wave accounting integration
- ✓employee self-service
Pricing Comparison
Our Take
Choose FreshBooks if freelancers and small service businesses wanting simple, beautiful invoicing and accounting. Choose Wave Payroll if micro-businesses already using wave accounting that want simple integrated payroll.
Best For
Freelancers and small service businesses wanting simple, beautiful invoicing and accounting
Best For
Micro-businesses already using Wave accounting that want simple integrated payroll
Also Consider
If neither FreshBooks nor Wave Payroll is the right fit, Dext is worth evaluating.
Dext
Bookkeepers, accountants, and businesses with high receipt volumes wanting to eliminate manual data entry
From $15/mo
Frequently Asked Questions
What is the difference between FreshBooks and Wave Payroll?
FreshBooks is best for freelancers and small service businesses wanting simple, beautiful invoicing and accounting. Wave Payroll is best for micro-businesses already using wave accounting that want simple integrated payroll.
Which is better, FreshBooks or Wave Payroll?
Choose FreshBooks if freelancers and small service businesses wanting simple, beautiful invoicing and accounting. Choose Wave Payroll if micro-businesses already using wave accounting that want simple integrated payroll.
How much does FreshBooks cost?
FreshBooks starts at $19/mo. Pricing model: Paid.
How much does Wave Payroll cost?
Wave Payroll starts at $20/mo + $6/person. Pricing model: Paid.
Who should use FreshBooks?
Freelancers and small service businesses wanting simple, beautiful invoicing and accounting
Who should use Wave Payroll?
Micro-businesses already using Wave accounting that want simple integrated payroll